The GOP’s sprawling budget bill has upended US government support for renewables. But Macquarie Asset Management Executives say demand growth is creating generational opportunities throughout the energy sector amid the uncertainty.

Solar and wind generation in particular will soon lose significant government support under the recently-signed One Big Beautiful Bill Act (OBBBA). But Will Demas, senior managing director and head of Americas for Macquarie’s green investment team, said during an appearance on Crossroads: the infrastructure podcast, that demand growth driven by data centers and electrification of the grid will continue to support the sector.

“We believe that the fundamentals of wind and solar in this increased load and demand environment still holds true,” he said. “We haven’t changed our view in terms of the opportunity set.”

While the shift in US policy on renewables, conventional energy, and trade this year all affect the investment environment, Aaron Rubin head of Macquarie’s infrastructure and real assets energy investment team in North America, said demand growth is the defining driver of activity in the US energy sector right now. Trends toward electrification and the unprecedented growth of data centers are expected to drive increased electricity consumption in the US in the coming years, after a long period of relative stagnation.

“That has translated into a huge amount of capital that needs to go into the ground to support it, whether it be pipelines, gas fired power, LNG exports to take cheap US energy internationally, investments in utility infrastructure to support all that. It’s really a generational opportunity,” he said.

Listen to the entire podcast: here.